If I had a spare $10,000 sitting in a supposed high interest savings account I would withdraw it to invest in the share market in a heartbeat.
With interest rates at record lows and potentially still going lower, I believe the potential returns that the share market can provide are vastly superior to that of current savings accounts.
Three growth shares which I think could deliver outsized returns over the next few years are listed below. Here's why I'd invest that $10,000 in them:
Nanosonics Ltd. (ASX: NAN)
Nanosonics is a leading infection control specialist that operates predominantly in the United States market. It recently announced record half-year sales of $36.1 million, up a remarkable 131% on the prior corresponding period. This result was driven largely by the company's ultrasound probe disinfection system continuing to win U.S. market share. That's hardly surprising either as the system is easily the most superior product on the market. I expect further market share gains and the expanding of its presence in Germany and the UK will drive growth for the next few years.
Webjet Limited (ASX: WEB)
This fast-growing online travel agent is a no-brainer investment in my opinion. Webjet recently issued a very impressive trading update that revealed industry-beating growth across all of its business units. Although its shares have rallied 23% in the last three months, I don't think it is too late to invest. In my opinion Webjet is a fantastic buy and hold investment option today, and one which I expect to provide strong returns for investors over the next decade.
WiseTech Global Ltd (ASX: WTC)
Although at 51x estimated FY 2017's earnings WiseTech Global does not come cheap, I believe the cloud-based supply chain management software provider has strong enough growth prospects to warrant the premium. With over 6,000 of the world's logistics companies across more than 125 countries using its CargoWise One software, I think the company has become an integral part of the logistics industry. The growing popularity of its product means that management expects EBITDA in the region of $50 million to $53 million in FY 2017. This will be approximately 59% to 68% higher than in FY 2016.
